In order to adapt to the changes in the shipping economy, both the EU and the US have reformed their antitrust exemption regimes. However, they are in different stages of their reforms. For instance, the EU has repealed the antitrust exemption for liner conferences after due investigation; in contrast, the US still acknowledges such exemptions while imposing strict restrictions on them. Nevertheless, both the US and the EU have actively granted antitrust exemptions to consortia agreements, as well as new business frameworks of cooperation between liner services operators like consortia. Considering the reforms in the EU and the US and the current status of legislations in China, China's shipping legislation should be grounded in its own shipping economy and should remove the stipulations scattered in the Regulations of the People's Republic of China on International Maritime Transportation. Endeavoring to be consistent with the Anti-Monopoly Law of the People's Republic of China, China should specify and improve its antitrust exemption rules for ocean shipping while drawing lessons from the reforms carried out in the EU and the US. Furthermore, it should make plain at the theoretical level that, when China's shipping economy turns mature, it should move towards placing strict limitations on, or abolishing, its antitrust exemption regime for ocean shipping.